East Providence, Rhode Island: Today, Capital Properties, Inc. (OTCQX: CPTP) reported net
income of $576,000 and $1,550,000 for the three and nine months ended September 30, 2015.
Based upon 6,599,912 shares outstanding, the basic income per common share for the same periods
was $.08 and $.23, respectively. For the three and nine months ended September 30, 2014, the
Company reported net income of $448,000 and $975,000, respectively. Based upon 6,599,912
shares outstanding, the basic income per common share for the same periods in 2014 was $.07 and
$.15, respectively.

For the three and nine months ended September 30, 2015, leasing revenue increased $119,000 and
$236,000, respectively, from 2014 due principally to scheduled increases in rents under both shortterm
and long-term land leases. For the three months ended September 30, 2015, leasing expense
decreased $9,000 from 2014 due to lower depreciation expense; certain assets became fully
depreciated in 2015. For the nine months ended September 30, 2015, leasing expense increased
$10,000 from 2014 due to an increase in repairs and maintenance at the Steeple Street Building,
offset in part by a decrease in depreciation expense due to certain assets becoming fully depreciated
in 2015.

For the three months ended September 30, 2015, petroleum storage facility revenue remained at the
2014 level. For the nine months ended September 30, 2015, petroleum storage facility revenue
increased $450,000 from 2014 due to Sprague Operating Resources LLC leasing the entire Facility.
Under a lease that terminated on April 30, 2014, the Company had leased to Atlantic Trading &
Marketing, Inc., a portion of the storage capacity of the Facility. For the three months and nine
months ended September 30, 2015, petroleum storage facility expense decreased $44,000 and
$220,000, respectively from 2014 due to lower depreciation expense due to certain assets becoming
fully depreciation in 2015 and a decrease in repairs and maintenance, offset in part by an increase in
payroll and related costs.

For the three months ended September 30, 2015, general and administrative expense decreased
$14,000 due to a decrease in payroll and related costs. For the nine months ended September 30,
2015, general and administrative expense increased $20,000 due to an increase in payroll and
related costs.

For the three months and nine months ended September 30, 2015 and 2014, the interest expense on
the bank loan decreased $23,000 and $67,000, respectively. In both May and August, 2015, the
Company prepaid $1,000,000 on the bank loan. In June and December 2014, the Company prepaid
$1,000,000 and $1,300,000, respectively, on the bank loan. For the three months and nine months
ended September 30, 2015 and 2014, the interest expense on the dividend notes payable remained at
the 2014 level.

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